Home / Knowledge / News / Apparel/Garments / Wolverine's net income falls 7.99% last fiscal
Wolverine's net income falls 7.99% last fiscal
Feb '16
Courtesy: Wolverine Worldwide Inc
Courtesy: Wolverine Worldwide Inc
Wolverine, a US based apparel and accessories supplier, reported a fall of 7.99 per cent in its net earnings to $123.2 million in the fiscal year ending on January 2, 2016 as compared to $133.9 million in the fiscal year ending on January 3, 2015, according to a press statement released by the company.

Diluted EPS was reported to be $1.20 in this period as compared to $1.30 in the corresponding last fiscal, a fall of 8.33 per cent.

Operating profit was reported at $201.1 million as compared to $229.9 million, a fall of 14.32 per cent.

The revenue for this year was $2,691.6 million as compared to $2,761.1 million, a fall of 2.51 per cent.

Commenting on the results, Mike Stornant, senior vice president and chief financial officer of Wolverine said, “This last quarter was incredibly volatile for the whole industry as global economic pressures worsened, holiday sales were tepid and unseasonably warm weather impacted many regions. We foreshadowed these challenging conditions in mid-September.”

“Since early September, we’ve made important leadership and organisational changes focused on fixing under-performing areas of the business. We are confident we are well-positioned to navigate the challenging global landscape in front of us,” he added. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 17th Jan 2017

GST rollout from July 1; states to control small taxpayers

The Centre and states have reached a consensus on the issue of dual...

Textiles | On 17th Jan 2017

Reliance Industries net increases 3.6% in Q3FY17

In the three months ended December 31, 2016, India’s biggest private...

Textiles | On 17th Jan 2017

IMF projects advanced economies to grow at 1.9% in 2017

Advanced economies are projected to grow by 1.9 per cent in 2017 and...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search